Principal Financial Group Inc. Continues to Hold Position in Versartis, Inc. (VSAR)
Principal Financial Group Inc. maintained its stake in Versartis, Inc. (NASDAQ:VSAR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 187,600 shares of the biopharmaceutical company’s stock at the close of the second quarter. Principal Financial Group Inc. owned about 0.53% of Versartis worth $3,274,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of VSAR. Perceptive Advisors LLC increased its position in shares of Versartis by 6.1% during the first quarter. Perceptive Advisors LLC now owns 4,407,317 shares of the biopharmaceutical company’s stock worth $94,096,000 after acquiring an additional 253,632 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Versartis during the first quarter worth approximately $4,117,000. Renaissance Technologies LLC increased its position in shares of Versartis by 334.6% during the first quarter. Renaissance Technologies LLC now owns 214,700 shares of the biopharmaceutical company’s stock worth $4,584,000 after acquiring an additional 165,300 shares during the period. Vanguard Group Inc. increased its position in shares of Versartis by 11.3% during the first quarter. Vanguard Group Inc. now owns 1,002,507 shares of the biopharmaceutical company’s stock worth $21,404,000 after acquiring an additional 101,578 shares during the period. Finally, EcoR1 Capital LLC purchased a new position in shares of Versartis during the first quarter worth approximately $2,135,000. 78.24% of the stock is currently owned by institutional investors and hedge funds.
VSAR has been the topic of a number of research reports. ValuEngine lowered shares of Versartis from a “sell” rating to a “strong sell” rating in a research report on Friday, September 22nd. Cantor Fitzgerald set a $34.00 target price on shares of Versartis and gave the stock a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Versartis from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. SunTrust Banks, Inc. downgraded shares of Versartis from a “buy” rating to a “hold” rating and dropped their price objective for the company from $25.00 to $4.00 in a research note on Friday, September 22nd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $9.00 price objective (down from $28.00) on shares of Versartis in a research note on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $7.22.
Versartis, Inc. (NASDAQ:VSAR) opened at 2.75 on Friday. The company’s market capitalization is $97.84 million. The stock’s 50 day moving average is $14.42 and its 200-day moving average is $17.20. Versartis, Inc. has a 1-year low of $2.35 and a 1-year high of $24.00.
Versartis (NASDAQ:VSAR) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.20). On average, analysts expect that Versartis, Inc. will post ($3.61) earnings per share for the current fiscal year.
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In related news, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $3.29, for a total transaction of $7,007,700.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.90% of the stock is owned by corporate insiders.
Versartis Company Profile
Versartis, Inc is an endocrine-focused biopharmaceutical company. The Company is engaged in developing a long-acting form of recombinant human growth hormone, somavaratan (VRS-317), for growth hormone deficiency (GHD), an orphan disease. The Company’s first indication for somavaratan is pediatric GHD.
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